Hi all, so my wife and i decided to upgrade from our current home to a larger home in California. we have enough to put 15% down for the new home but if we were to sell our current home we could easily do the whole 20%. However, the predicament lies in us having to find a place to live for a few months while our new home is being built if we sell our current home. Additionally, if we needed to make small improvements to our current home while renting it out couldn’t these be used as a tax write off? For example, the grass in the backyard is dying, there are small holes in the carpet in some places, etc. In your opinion, would it be better to sell now, rent an apt for a few months, and move in with 20% down? OR put 15% down on the new home with an increased interest rate, rent out our current home for a year while making improvements, and then sell before having to pay capital gains since we’ve lived there 2 out of the last 5 years? Thanks in advance!
Submitted July 07, 2018 at 11:35AM by ark__life https://ift.tt/2J2Vk6S
